After making a flat-to-positive opening, Indian
equities continued to trade in fine fettle on back of strong buying in
frontline counters in the late morning session. The Asian equity indices
were trading in the red at this point of time as investors refocused on
the risk of a US fiscal crisis following Federal Reserve Chairman Ben
Bernanke's remarks that the budget impasse was already damaging growth.
Back home, traders were seen piling up position in Realty, CD and Bankex
sector while selling was witnessed in Oil & Gas and Auto sector.
DLF, Unitech, HDIL, Oberoi Realty, Godrej Properties and Indiabulls Real
Estate, from Realty pack were seen trading in green. Titan Industries,
Videocon Industries, Rajesh Exports, TTK Prestige and Blue Star from CD
pack were seen trading in green. However Oil & Gas stocks - RIL,
ONGC, Cairn India, BPCL and HPCL were capping the markets' gains. Auto
majors Infosys, Tata Motors, Maruti Suzuki and Hero MotoCorp were
pressurizing the markets.
In the scrip specific development, Aviation stocks such as Jet Airways, Spice jet, Kingfisher Airlines were edged higher after the Ministry of Civil Aviation stated that total domestic passengers carried by the scheduled domestic airlines rose to 45.55 lakh in October 2012 from 40.18 lakh in September 2012. Biocon was trading in red after the Bangalore-based biotech firm protested against the drug price regulator National Pharma Pricing Authority's (NPPA) insulin price fixation methodology.
Further, Jyoti rose on bagging order worth Rs 7.48 crore for Irrigation Schemes. NDTV surged on introducing three channels in Malaysian market. Indraprastha Gas soared on commissioning country's first of its kind CNG station. Pennar Industries edged higher on bagging order worth Rs 50 crore. Surya Roshni zoomed on bagging order worth Rs 84 crore in October.
The NSE Nifty and BSE Sensex were managing to hold their psychological 5,550 and 18300 levels. The market breadth on BSE was positive, advances: declines in the ratio of 1279:983.
The BSE Sensex is currently trading at 18389.87, up by 60.55 points or 0.33%. There were 19 stocks advancing against 11 declines on the index.
The broader indices were trading in green; both BSE Mid cap up & Small cap index were up by 0.27% each.
The top gaining sectoral indices on the BSE were, Realty up by 1.12%, CD up by 1.09%, Bankex up by 0.83%, FMCG up by 0.58% and IT up by 0.49%. While, Oil and Gas down by 0.11% and Auto down by 0.09% were the top losers on the index.
The top gainers on the Sensex were ICICI Bank up by 1.78%, Tata Power up by 1.63%, Cipla up by 1.45%, Sun Pharma up by 1.34% and Jindal Steel up by 1.33%
On the flip side, Coal india was down by 0.96%, NTPC was down by 0.86%, HDFC was down by 0.72%, Bharti Airtel down by 0.70% and BHEL was down by 0.68% were the top losers on the Sensex.
Meanwhile, global steel production for the month of October surged by 1.3% to 126 million tonne (MT) against 124.55 MT recorded in the same month last year, mainly on the back of six percent rise seen in production in China, as per the data of World Steel Association.
China's crude steel production for October 2012 was 59.1 MT, up by 6.0% compared to October 2011. In Asia, Japan produced 8.8 MT of crude steel in October 2012, a decrease of 6.7% compared to 2011, India's production grew by 5.7% to 6.5 MT from 6.1 MT the same month last year.
In the EU, Germany produced 3.7 MT, a slight increase of 0.3% over October 2011. Italy's production was 2.4 MT, down by 10.4%, France produced 1.3 MT and Spain 1.1 MT. The US produced 6.9 MT steel in October 2012, a 3.3% dip against the same month last year. Brazil's production was 3.2 MT, an increase of 7.7% against October 2011.
The top gainers of the Nifty were Tata power up by 1.73%, ICICI bank up by 1.69%, Sun Pharma up by 1.45%, Bank of Baroda up by 1.38% and Hindalco up by 1.33%.
On the flip side, NTPC down by 1.19%, Cairn down by 1.06%, HDFC down by 0.98%, Coal India down by 0.79% and BHEL down by 0.70%, were the major losers on the index.
Most of the Asian equity indices were trading in the red; Shanghai Composite was down by 0.65%, Jakarta Composite was down by 0.25%, KLSE Composite was down by 0.22%, Straits Times was down by 0.12%, Seoul Composite was down by 0.49% and Taiwan Weighted was down by 0.92%. On the flip side, Hang Seng up by 0.35% and Nikkei 225 up by 0.34% were the only gainers amongst Asian pack.
In the scrip specific development, Aviation stocks such as Jet Airways, Spice jet, Kingfisher Airlines were edged higher after the Ministry of Civil Aviation stated that total domestic passengers carried by the scheduled domestic airlines rose to 45.55 lakh in October 2012 from 40.18 lakh in September 2012. Biocon was trading in red after the Bangalore-based biotech firm protested against the drug price regulator National Pharma Pricing Authority's (NPPA) insulin price fixation methodology.
Further, Jyoti rose on bagging order worth Rs 7.48 crore for Irrigation Schemes. NDTV surged on introducing three channels in Malaysian market. Indraprastha Gas soared on commissioning country's first of its kind CNG station. Pennar Industries edged higher on bagging order worth Rs 50 crore. Surya Roshni zoomed on bagging order worth Rs 84 crore in October.
The NSE Nifty and BSE Sensex were managing to hold their psychological 5,550 and 18300 levels. The market breadth on BSE was positive, advances: declines in the ratio of 1279:983.
The BSE Sensex is currently trading at 18389.87, up by 60.55 points or 0.33%. There were 19 stocks advancing against 11 declines on the index.
The broader indices were trading in green; both BSE Mid cap up & Small cap index were up by 0.27% each.
The top gaining sectoral indices on the BSE were, Realty up by 1.12%, CD up by 1.09%, Bankex up by 0.83%, FMCG up by 0.58% and IT up by 0.49%. While, Oil and Gas down by 0.11% and Auto down by 0.09% were the top losers on the index.
The top gainers on the Sensex were ICICI Bank up by 1.78%, Tata Power up by 1.63%, Cipla up by 1.45%, Sun Pharma up by 1.34% and Jindal Steel up by 1.33%
On the flip side, Coal india was down by 0.96%, NTPC was down by 0.86%, HDFC was down by 0.72%, Bharti Airtel down by 0.70% and BHEL was down by 0.68% were the top losers on the Sensex.
Meanwhile, global steel production for the month of October surged by 1.3% to 126 million tonne (MT) against 124.55 MT recorded in the same month last year, mainly on the back of six percent rise seen in production in China, as per the data of World Steel Association.
China's crude steel production for October 2012 was 59.1 MT, up by 6.0% compared to October 2011. In Asia, Japan produced 8.8 MT of crude steel in October 2012, a decrease of 6.7% compared to 2011, India's production grew by 5.7% to 6.5 MT from 6.1 MT the same month last year.
In the EU, Germany produced 3.7 MT, a slight increase of 0.3% over October 2011. Italy's production was 2.4 MT, down by 10.4%, France produced 1.3 MT and Spain 1.1 MT. The US produced 6.9 MT steel in October 2012, a 3.3% dip against the same month last year. Brazil's production was 3.2 MT, an increase of 7.7% against October 2011.
The crude steel capacity utilization ratio in October 2012 declined to 76.5 percent from 77.7 percent in September.
S&P CNX Nifty is currently trading at
5,589.70, up by 18.15 points or 0.33%, after touching a high and a low
of 5,596.25and 5,561.40 respectively. There were 31 stocks advancing
against 19 declining one's on the index. The top gainers of the Nifty were Tata power up by 1.73%, ICICI bank up by 1.69%, Sun Pharma up by 1.45%, Bank of Baroda up by 1.38% and Hindalco up by 1.33%.
On the flip side, NTPC down by 1.19%, Cairn down by 1.06%, HDFC down by 0.98%, Coal India down by 0.79% and BHEL down by 0.70%, were the major losers on the index.
Most of the Asian equity indices were trading in the red; Shanghai Composite was down by 0.65%, Jakarta Composite was down by 0.25%, KLSE Composite was down by 0.22%, Straits Times was down by 0.12%, Seoul Composite was down by 0.49% and Taiwan Weighted was down by 0.92%. On the flip side, Hang Seng up by 0.35% and Nikkei 225 up by 0.34% were the only gainers amongst Asian pack.
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